PS5 Console Rentals Surge in Japan: Here's Why

In Japan, the trend of renting PlayStation 5 (PS5) consoles has experienced a significant surge in popularity over recent months. This shift is driven by a combination of factors including increased console prices, the launch of a highly anticipated game series, and a strategic initiative by a major Japanese retailer.

In February, GEO Corporation, a prominent chain with around 1,000 stores across Japan specializing in the rental and sale of movies, music, and games, introduced a service allowing customers to rent PS5 consoles. The rental prices are notably affordable, starting at 980 yen (approximately $7) for a week and 1780 yen (approximately $12.50) for two weeks. This initiative has proven to be highly successful, with rental rates reaching between 80% to 100% at the 400 stores participating in the program.

GEO's decision to offer PS5 rentals was influenced by the declining demand for DVD and CD rentals due to the rise of streaming services. Yusuke Sakai, the manager in charge of GEO's rental products, shared with ITMedia that the idea originated in the summer of 2024. At that time, despite the resolution of PS5 supply issues, rumors of impending price hikes due to unfavorable exchange rates were circulating. On September 2, 2024, Sony confirmed these rumors by increasing the price of the PS5 Digital Edition from 59,980 yen (approximately $427) to 72,980 yen (approximately $520), and the disc drive version from 66,980 yen (approximately $477) to 79,980 yen (approximately $569). The domestic price increase was met with significant backlash, with many Japanese users expressing dissatisfaction on Sony's official X announcement, citing the high cost of the four-year-old console.

The Best PS5 Games

View 26 Images

In response to these developments, GEO saw an opportunity to leverage its existing rental infrastructure. With a history dating back to the late 1980s, GEO has extensive experience in selling, repairing, and renting various electronic products. This expertise allowed the company to offer PS5 rentals at significantly lower prices than competitors, who typically charged between 4500 to 8900 yen per month. GEO's competitive pricing likely played a crucial role in the sudden increase in PS5 rentals.

The timing of GEO's PS5 rental service launch on February 28 was strategically aligned with the release of Monster Hunter Wilds. Capcom's Monster Hunter series has a strong following in Japan, and the limited platform availability of Monster Hunter Wilds—coupled with the high PC system requirements and the relative unpopularity of Xbox in Japan—made the PS5 an attractive choice for many gamers. However, the console's high cost posed a barrier. "We knew that Monster Hunter Wilds was going to be one of the biggest titles of the year, so we made it our top priority to get the service set up in time for that," Sakai explained.

Sakai further elaborated that GEO's PS5 rental service aligns with the company's long-standing philosophy of enabling customers to try out expensive products at a more affordable price. This approach echoes their past practices, such as renting movies for around 1,000 yen per night when purchasing a single movie videotape or laserdisc cost 15,000 to 20,000 yen in the 1980s. Today, with a PS5 costing nearly 80,000 yen, renting becomes an appealing option for parents and students alike.

However, potential renters should be aware that the cost of renting a PS5 might not be as economical as it initially seems. Additional expenses such as renting or purchasing games and the need for a PlayStation Network (PSN) subscription for online play can add up. Moreover, GEO currently only offers one-week and two-week rental plans, with an additional charge of 500 yen per day for extended periods.